Pension fund group APG is moving its office in Amsterdam’s prestigious Zuidas business district to the Sloterdijk business park in the west of the city in 2021.

APG, which manages one of the biggest pension funds in the world – the Dutch civil service fund ABP – says the move will save it €87m over the 17 year duration of the lease.

‘You cannot explain to your pensioners that you are spending so much on offices when they are busy with counting their pennies,’ APG board member Wim Henk Steenpoorte told the Financieele Dagblad.

The building on Basisweg, which is already home to some 500 APG workers, will be totally overhauled by its owner Edge Technologies and converted into one of the most sustainable buildings in the Netherlands.

The 1970s building will become energy neutral, and the health of staff will take centre stage. This means, for example, that stairs will be given a prominent place to encourage walking, the FD said.